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New policy measures have been introducedto transform Greece’s agriculture into a more modernand environmentally friendly agriculture. Adopting newtechnology and environmentally friendly productionsystems involves risk and uncertainty, which in turnstress the need for well designed policy schemes. Thisstudy attempts to examine the effects of incomevariability upon the decision to adopt new technologyand environmentally friendly production systems byintroducing the real options analysis to dairy sheepfarming in Greece. The real options procedure revealedthat the investment in new technology in dairy sheepfarms under organic scheme is profitable. Attractiveeconomic incentives that are offered by the appliedagricultural policy to young farmers compensate for therisk and uncertainty of the activity.

Keywords: agricultural policy ; organic sheepfarming ; real options

Subject(s): Livestock Production/Industries

Issue Date: 2008

Publication Type: Conference Paper/ Presentation

PURL Identifier:

Total Pages: 8

Record appears in: European Association of Agricultural Economists (EAAE) > 2008 International Congress, August 26-29, 2008, Ghent, Belgium

Autor: Tzouramani, Irene ; Sintori, Alexandra ; Liontakis, Angelos E. ; Alexopoulos, George


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